In late December 2015, the Ministry of Finance issued a press release on an amendment to the Intellectual Property tax regime.
The changes will incorporate the recommendations of Action 5 of the Organisation for Economic Co-operation and Development (OECD), which were issued on 5 October 2015 for the Action Plan against ‘Base Erosion and Profit Shifting’ (BEPS), as well as the conclusions to the ECOFIN Council adopted on 8 December 2015.
